Browse everything: Tickers A–Z · Issuers · Comparisons · Tags
TMF ETF — Direxion Daily 20+ Year Treasury Bull 3X Shares
Direxion Daily 20+ Year Treasury Bull 3X Shares (TMF)
Updated October 27, 2026.
Verdict as of October 27, 2026
TMF's distribution is rated elevated risk by the Dividend Vision Distribution Safety Score™ (34/100, high confidence). It pays quarterly and its distribution rate is 4.73%. The latest total cash payment per current share, $0.3506 with an ex-date of September 22, 2026, was 4.0% lower than the previous $0.3651. It is not yet confirmed whether this is a cut to the regular payout or a one-off difference.
Sources: Direxion, Section 19a-1 notices, scoring methodology.
TMF is an ETF linked to 20+ Year Treasury. Its distribution rate is 4.73%, its trailing-12-month yield is 4.72%, its expense ratio is 0.90%. Dividend Vision Distribution Safety Score™ is 34/100 (Elevated risk). Total return is -70.2% over the past 17.5 years, 1184.4 points behind SPY at 1114.2%.
TMF dividend yield and income
Price as of 2026-10-27.
The distribution rate (4.73%) has no calculation basis on file. Trailing-12-month yield (4.72%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.35062. The ex-dividend date is 09/22/2026. The payment date is 09/29/2026.
| Ex-date | As paid | Per current share | Change from previous payment |
|---|---|---|---|
| 2026-09-22 | $0.35062 | $0.35062 | -4.0% Total cash (unclassified) |
| 2026-06-23 | $0.36506 | $0.36506 | 63.5% Total cash (unclassified) |
| 2026-03-24 | $0.22324 | $0.22324 | -51.4% Total cash (unclassified) |
| 2025-12-23 | $0.45913 | $0.45913 | 13.3% Total cash (unclassified) |
| 2025-09-23 | $0.40537 | $0.40537 | 12.1% Total cash (unclassified) |
| 2025-06-24 | $0.36167 | $0.36167 | 25.6% Total cash (unclassified) |
| 2025-03-25 | $0.28788 | $0.28788 | -45.1% Total cash (unclassified) |
| 2024-12-23 | $0.5243 | $0.5243 | 20.5% Total cash (unclassified) |
| 2024-09-24 | $0.43507 | $0.43507 | 0.0% Total cash (unclassified) |
| 2024-06-25 | $0.43495 | $0.43495 | 36.0% Total cash (unclassified) |
| 2024-03-19 | $0.31979 | $0.31979 | -35.7% Total cash (unclassified) |
| 2023-12-21 | $0.49729 | $0.49729 | -0.8% Total cash (unclassified) |
| 2023-09-19 | $0.05015 | $0.5015 | 5.3% Total cash (unclassified) |
| 2023-06-21 | $0.04763 | $0.4763 | 37.6% Total cash (unclassified) |
| 2023-03-21 | $0.03462 | $0.3462 | -26.5% Total cash (unclassified) |
| 2022-12-20 | $0.04709 | $0.4709 | 31.8% Total cash (unclassified) |
| 2022-09-20 | $0.03572 | $0.3572 | 39.7% Total cash (unclassified) |
| 2022-06-22 | $0.02556 | $0.2556 | 67.6% Total cash (unclassified) |
| 2022-03-22 | $0.01525 | $0.1525 | 865.2% Total cash (unclassified) |
| 2021-12-21 | $0.00158 | $0.0158 | -71.0% Total cash (unclassified) |
| 2021-09-21 | $0.00545 | $0.0545 | -62.0% Total cash (unclassified) |
| 2021-06-22 | $0.01436 | $0.1436 | -5.5% Total cash (unclassified) |
| 2021-03-23 | $0.01519 | $0.1519 | -97.8% Total cash (unclassified) |
| 2020-12-10 | $0.68605 | $6.8605 | 591.2% Total cash (unclassified) |
| 2020-03-24 | $0.09925 | $0.9925 | 96.7% Total cash (unclassified) |
| 2019-12-23 | $0.05045 | $0.5045 | -14.5% Total cash (unclassified) |
| 2019-09-24 | $0.05898 | $0.5898 | -11.6% Total cash (unclassified) |
| 2019-06-25 | $0.06672 | $0.6672 | -1.5% Total cash (unclassified) |
| 2019-03-19 | $0.06771 | $0.6771 | -30.3% Total cash (unclassified) |
| 2018-12-27 | $0.09721 | $0.9721 | 71.6% Total cash (unclassified) |
| 2018-09-25 | $0.05666 | $0.5666 | -45.6% Total cash (unclassified) |
| 2018-06-19 | $0.10424 | $1.0424 | 245.1% Total cash (unclassified) |
| 2018-03-20 | $0.03021 | $0.3021 | -58.0% Total cash (unclassified) |
| 2017-12-19 | $0.07197 | $0.7197 | 292.0% Total cash (unclassified) |
| 2017-06-20 | $0.01836 | $0.1836 | -5.4% Total cash (unclassified) |
| 2013-09-17 | $0.0776 | $0.194 | -34.2% Total cash (unclassified) |
| 2013-06-18 | $0.11787 | $0.294675 | 118.5% Total cash (unclassified) |
| 2013-03-19 | $0.05394 | $0.13485 | -26.6% Total cash (unclassified) |
| 2012-12-18 | $0.07353 | $0.183825 | 54.9% Total cash (unclassified) |
| 2012-03-21 | $0.04747 | $0.118675 | -90.5% Total cash (unclassified) |
| 2011-12-13 | $0.49895 | $1.247375 | N/A |
| 2010-12-22 | $0.2923 | $0.73075 | N/A |
| 2010-12-14 | $0.98733 | $2.468325 | N/A |
| 2010-09-22 | $0.10768 | $0.2692 | -51.2% Total cash (unclassified) |
| 2010-06-22 | $0.22046 | $0.55115 | 41.0% Total cash (unclassified) |
| 2010-03-23 | $0.15637 | $0.390925 | N/A |
| 2009-12-22 | $0.28201 | $0.705025 | N/A |
| 2009-11-20 | $4.19652 | $10.4913 | 1222.9% Total cash (unclassified) |
| 2009-09-22 | $0.31723 | $0.793075 | 387.5% Total cash (unclassified) |
| 2009-06-23 | $0.06507 | $0.162675 | — |
| 2009 total (partial launch year) | — | $12.152075 | — |
| 2010 total | — | $4.41035 | — |
| 2011 total | — | $1.247375 | -71.7% |
| 2012 total | — | $0.3025 | -75.7% |
| 2013 total | — | $0.623525 | 106.1% |
| 2017 total | — | $0.9033 | 44.9% |
| 2018 total | — | $2.8832 | 219.2% |
| 2019 total | — | $2.4386 | -15.4% |
| 2020 total | — | $7.853 | 222.0% |
| 2021 total | — | $0.3658 | -95.3% |
| 2022 total | — | $1.2362 | 237.9% |
| 2023 total | — | $1.82129 | 47.3% |
| 2024 total | — | $1.71411 | -5.9% |
| 2025 total | — | $1.51405 | -11.7% |
| 2026 YTD total | — | $0.93892 | -11.0% vs prior-year YTD |
TMF dividend growth
Trailing-12-month distributions versus the preceding 12 months changed -11.5%. The 1Y row below uses this same adjacent TTM cash-window comparison. The deepest trailing-12-month payout decline in the past five years is -20.78%.
| Window | Change |
|---|---|
| 1Y | -11.5% |
| 3Y | -22.1% |
| 5Y | -80.6% |
TMF holdings and sector exposure
The top 1 holdings are 17.8% of the fund.
| Ticker | Name | Weight |
|---|---|---|
| TLT | iShares Trust - iShares 20+ Year Treasury Bond ETF | 17.75% |
To see how this fund's sectors add up across your own holdings, use True Exposure.
TMF performance versus SPY
Total return is -70.2% over the past 17.5 years, 1184.4 points behind SPY at 1114.2%. Over the past year its total return — price change plus distributions reinvested — is -29.1%. Its deepest 1-year drawdown was 40.2%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 8.9% | — |
| 3M | -7.4% | — |
| 6M | -15.1% | — |
| YTD | -18.3% | — |
| 1Y | -29.1% | — |
| 2Y CAGR | — | -17.90% |
| 3Y CAGR | — | -6.80% |
| 5Y CAGR | — | -34.40% |
| 10Y CAGR | — | -17.20% |
| Since inception (17.5 years) | -70.2% | -6.70% |
TMF key facts
- Distribution Safety Score™
- 34 · Elevated risk
- Safety-Adjusted Yield
- 1.61%
- Issuer
- Direxion
- Asset type
- ETF
- Asset class
- Fixed Income
- Inception date
- 04/16/2009
- Expense ratio
- 0.90%
- Distribution rate
- 4.73%
- Distribution frequency
- Quarterly
- Trailing yield
- 4.72%
- Last close
- $29.64 (as of 2026-10-27)
- AUM
- $1,994,263,844
- Average volume
- 3,475,161
- Dividend
- $0.35062
- Ex-dividend date
- 09/22/2026
- Payment date
- 09/29/2026
- Beta
- 6.97
How Dividend Vision calculates yield and returns
Distribution rate (4.73%) has no calculation basis on file. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (4.72%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: Direxion; Index: 20+ Year Treasury; prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
TMF risks and drawbacks
Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 40.2%.
Who may consider TMF — and who may not
TMF may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors who need monthly cash flow (TMF pays quarterly); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
More on TMF
Frequently asked questions
Does TMF pay monthly?
No. TMF currently pays quarterly, not monthly.
What is TMF linked to?
TMF is linked to 20+ Year Treasury, not a broad market index.
What is TMF's expense ratio?
TMF's expense ratio is 0.90%.
What is TMF's dividend yield?
TMF's distribution rate is 4.73%, paid quarterly, with a 0.90% expense ratio — no calculation basis on file.
How has TMF's dividend grown?
Trailing-12-month distributions versus the preceding 12 months changed -11.5%. That is the same adjacent TTM cash-window comparison used in the dividend-history table.
When does TMF pay a dividend?
TMF pays quarterly. The dividend amount is $0.35062. The ex-dividend date is 09/22/2026. The payment date is 09/29/2026.
How has TMF performed?
Total return is -70.2% over the past 17.5 years, 1184.4 points behind SPY at 1114.2%. Over the past year its total return — price change plus distributions reinvested — is -29.1%. Its deepest 1-year drawdown was 40.2%.
Is TMF a good investment?
TMF's Dividend Vision Distribution Safety Score is 34 (Elevated risk). That is a risk signal, not investment advice. Its distribution rate is 4.73% (no calculation basis on file). Compare peers below rather than treating any single figure as a buy or sell.
More securities from Direxion.
Tickers
Holdings as-of date unavailable.
| Ticker | Name | Weight |
|---|
See how this investment would fit into your portfolio.